What is NSAC's Cooperative Learning Network?
The NSAC Cooperative Learning Network is a live, interactive webinar, and you can attend from any location with internet and/or telephone access. NSAC members can attend an unlimited number of CLNs at no charge!

Who presents the information for one of these courses?
Each Cooperative Learning Network will have one or more speakers who are recognized experts on the topic. CLNs typically include a Q&A session where participants can ask questions live or by chat.

CPE CreditsThe National Society of Accountants for Cooperatives (NSAC) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors through its website: www.learningmarket.org.

Delivery Method: Group-Live.

CLN Policies
Refunds for CLNs are not provided. Member registrants, if unable to participate, will be provided with a link to the PODCast. Note PODCasts are not eligible for CPE credit.

What does my registration include?
Your registration includes long-distance charges for the audio portion and log-in to the video presentation. All handouts and presentation files are downloadable and may be printed out or saved to the participant's computer once they are logged in to the course meeting room. Sessions include one Certificate of Attendance. Certificates for additional participants are $10.00 each.

Why NSAC Cooperative Learning Networks?

Fast.
No wasted time. Get right to the heart of the matter in a course designed to easily fit into your busy schedule.

Convenient.
No travel. No time out of the office. Listen and follow along from the comfort and convenience of your desk, device or conference room.

Easy.
A computer, device and/or telephone are all the equipment you need.

CLNs are ideal for multiple attendees. Registrants may use a monitor and speakers/speakerphone and invite others to participate - at no extra cost to you. Additional attendees seeking CPE credit for viewing the session will incur a $10 fee per certificate request.

Affordable.
NSAC Cooperative Learning Networks are free for members and available to non members at a fraction of the cost of travel and attendance fees for other high-priced conferences or seminars.

For more information contact the National Office at 937-222-6707 or email to: info@nsacoop.org

Advanced preparation or prerequisites that are required for this course will be sent by 12/30.

Course DescriptionDescription: This 4-hour, 4-CPE credit course, is designed for new hires and other employees of cooperatives and firms serving cooperatives that can benefit from training in the unique nature of cooperatives.

Introduction to Cooperatives – Donald Frederick (11:00 am - 12:00 pm)
During this presentation we explain the foundation for doing business on a cooperative basis, with special emphasis on the owner-customer role of a co-op's members. We discuss the rich history of cooperatives in America, the many types of cooperatives in our communities, and conclude with an examination of the benefits of having businesses operate as cooperatives.

Equity Management & Inter-Cooperative Investments – Phil Miller (12:00 pm – 1:00 pm)
The course discusses the various types of Cooperative Equity and introduces the concepts of Equity Redemption. It discusses the Components of Inter-Cooperative Investments and why Co-ops so often invest in each other. It covers Balance Sheet and Income Statement Presentation, Timing and Recognition issues, Footnote Disclosures, and Impairment Questions related specifically to Inter-Cooperative Investments.

Lunch (1:00 pm - 1:30 pm)
The audio portion of the CLN will be suspended during this time.

Basic Cooperative Taxation – Donald Frederick (1:30 pm – 2:30 pm)
During this session we discuss the unique Federal income tax treatment of cooperatives. We focus on how tax law supports equity accumulation by cooperatives, particularly the patronage refund. We conclude by providing a set of tools to facilitate tax planning by cooperatives and their professional advisers.

Co-op GAAP – Phil Miller (2:30 pm - 3:30 pm)
The course discusses how all GAAP is applicable to co-ops, but also how some GAAP applies specifically to only co-ops. We will discuss the two single pieces of GAAP that form the basis for Co-op GAAP, plus one piece of GAAP that applies to electric co-ops. We will discuss how NSAC has contributed to the body of Co-op GAAP over the years and will finish with a discussion of the new FASB Codification and how Co-op GAAP is contained within the Codification.

Presenter Bio(s) Don Frederick , Retired From August 2007 until March 2012, Don Frederick served as NSAC's Director of Education. His responsibilities included preparing educational materials on cooperative accounting, finance, and taxation and coordinating development of program content for NSAC live and web-based educational seminars. Before joining NSAC, Don spent two decades as Program Leader for Law, Policy, and Governance with the Cooperative Programs group at the U.S. Department of Agriculture. Don’s prior experience also includes several years on the legal staff of the National Council of Farmer Cooperatives and time as a staff attorney in the USDA Office of the General Counsel. In October 2007, Don was designated as an Honored Cooperator by the National Cooperative Business Association. In August, 2008, he received NSAC's highest honor, its Silver Bowl Award, for "service which has enhanced, to an unusual degree, the image and operations of the National Society of Accountants for Cooperatives and the cooperative community in general."

Phil Miller , Executive Secretary, Virginia Cooperative Council
Phil W. Miller. He recently retired as Vice President and Controller for Southern States Cooperative in Richmond, after a thirty-six year career. While at Southern States, he served as an Internal Auditor, Senior Auditor, Assistant Manager of Internal Audit, Manager of Corporate Accounting and Assistant Controller before being promoted to Controller in 2000. Phil received his BA in Economics from Berea College in 1968 and completed post graduate studies in Accounting at Virginia Commonwealth University in 1978. He is a retired licensed CPA in Virginia and former member of the AICPA and the Virginia Society of CPAs. He is a former National Director of the National Society of Accountants for Cooperatives (NSAC), and served as National President of NSAC in 2001-2002. He serves as an editor and writer for NSAC’s national journal, The Cooperative Accountant, and as an Assistant Education Director for NSAC.

For more information regarding this series or administrative policies such as complaint and refund, please contact the NSAC National offices, 136 S. Keowee St., Dayton, OH 45402, 937-222-6707, email: info@nsacoop.org

The National Society of Accountants for Cooperatives (NSAC) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org

The National Society of Accountants for Cooperatives (NSAC) is a professional society, comprised of approximately 2,000 individual members actively involved with the financial management and planning of cooperative business.